Fast. Simple. Painless.

Limited cash, two homes, one solution...

Limited cash didn’t stop this first-time home buyer from moving into a new home, thanks to Mortgage Loan Originator Jodi Perry. The client had good credit but little cash towards a new home. The current home he was renting was under contract to be sold, so he had to move. Jodi suggested a Virginia Housing Development Authority (VHDA) loan and paired it with a Federal grant for first-time homebuyers. Not only was the client able to purchase the home with no money down, he received 100% financing and 1.5% towards closing costs from the Federal grant.

They saved my earnest money deposit

A borrower, doing contract work, put a $50,000 earnest deposit on a home. Shortly before his closing, another lender decided against making the loan to the borrower. If he didn’t close on time, he would lose his earnest money deposit. Mortgage Loan Originator Jerry Weeda jumped at the opportunity to help the client – Fast! The client didn’t fit the standard mortgage investor guidelines, so Jerry was able to help him secure financing in a loan directly with Capital Finance Bank. Later, Jerry was able to help the borrower refinance the loan into a loan that met standard investor guidelines with a lower interest rate.

Mom (and Capital Finance Bank) to the rescue…

A couple had trouble getting a pre-approval from other lenders due to work history. Mortgage Loan Originator Brian Martucci asked the right questions and discovered that the client’s mother was going to be living in the home with them. She had commercial properties and a couple of residential properties. Mom became a co-applicant and with her assets and income, it was a done deal!

Say “yes” to multifamily property…

A client wanted to purchase a multifamily property, living in one unit and renting the other. They were told initially that it required at least 20-25% down. He approached two lenders, but both said he needed a big down payment. With little cash in hand, they suggested a condo or small house instead. Mortgage Loan Originator Brian Martucci said otherwise — the multi-family home was possible with a special loan program available in certain zip codes with 5% down. Although an option many lenders aren’t familiar with, Brian was — and so the client was on his way to home ownership.

Bridging the gap between one home to another…

A borrower was in the market for a new home in Washington DC. He had a house to sell but no cash for a new purchase. Although he qualified in terms of debt-to-income ratio to cover both his current mortgage and a new mortgage, lenders denied his application because he could not raise the cash for the down payment on the new property without selling his current property first. One said he should sell his current property first, then move into a temporary rental, and then buy a new property. Another asked if he had a rich parent and could get gift money. With both options off the table, he came to Capital Finance Bank. Mortgage Loan Originator Brian Martucci suggested a bridge loan, a short-term loan on his current property to finance the purchase of a new property. The suggestion paid off, as the client was able to pay the old and new mortgages, and thanks to the bridge loan had enough for 20% down payment and closing costs, which was paid off after he sold his old property.

When other lender said he couldn’t qualify…

A first-time homebuyer was looking to get into a home with a VA Home Loan. Another lender told him that his residual income wouldn’t meet the standards to qualify. What he needed was to meet a Mortgage Loan Originator that was well versed in VA Home Loans. Enter Jodi Perry. Jodi secured a mortgage by pairing the VA Home Loan with a grant from the Veterans Homeownership Down Payment Assistance Program. The other lender’s interest rate was a half point higher than Capital Finance Bank, and with the grant funds, Jodi was able to bring it down another half point, resulting in a full point lower than the other lender. Plus, they paid off a credit card and put $2000 down on the home — all this without the homebuyer shelling out a penny from his pocket.

Lender credit, lower rate, …

A veteran was buying a home from a large homebuilder with its own mortgage company. The builder was offering $15,000 incentive toward closing and escrow if you went with the in-house mortgage company. Six months later, the mortgage company quoted a rate with a 1% origination fee (about $7,000) and an interest rate 1% above market rate. The realtor referred the homebuyer to Mortgage Loan Originator Jerry Weeda. With a deadline of 21 days until closing, Jerry put the client into a VA Home Loan, and provided a lender credit of $10,000 and an interest rate about 1% lower. Since then, the client has referred seven people to Jerry.